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No Mass Hiring, India Inc shifts gear to selective recruitment..!
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No Mass Hiring, India Inc shifts gear to selective recruitment..!
Selective hiring and moderation of unreasonable expectations in the salary is the new mantra among HR professionals. Companies such as Tata Capital and Hinduja Group have reworked their hiring plans and are now looking at hiring lesser employees than planned earlier.
Tata Capital Ltd, a wholly-owned subsidiary of Tata Sons, which recently hired Harshawardhan Sabale as Co-head for its PE Growth Fund has restructured its hiring plans and is now hiring currently for critical positions.
Amar Sinhji, head (human resources), Tata Capital Ltd told FE, "Right now we are not doing mass hiring but are looking at filling critical positions only. But will also be hiring about 30-40 graduates at the junior level and post graduates from premier management institutes as well."
Similarly, Hinduja Group continues to hire for its new initiatives but becomes selective, however a lot of moderation has happened at the middle level and junior level positions, the group HR head reveal declining to give specifics.
"For our new businesses and at leadership position we continue our search for the right candidate. Also there has been no revision or cut in the compensation however the unreasonable hike of 50%-80% has now been moderated," said Sudhanshu Tripathi, group president, Hinduja Group.
Experts believe that salaries are now rationalised and justified compared to the extraordinary increase earlier. Salary of a CEO in the financial service sector is the highest and ranges anywhere between Rs 1.5 - 3 crore. A CEO in IT, telecom and insurance draws anywhere is between Rs 1-2 crore. In the media and entertainment the salary is between Rs 1.5 to 2.75 crore and in the pharma sector it is in the range of Rs 75 lakh to Rs 1.5 crore. However, the manufacturing sector is the lowest payer with the CEO`s salary in this sector ranging from Rs 40-80 lakh only. In the retail sector CEO of Indian retail company gets paid in the range of Rs 80 lakh to Rs 1.2 crore and an MNC retail company CEO gets paid up Rs 2 crore, say experts.
Pick `n` choose
• According to experts, salaries are now rationalised and justified compared to the extraordinary increase earlier
• Tata Capital Ltd has restructured its hiring plans and is now hiring currently for critical positions
• The company will also be hiring 30-40 graduates at the junior-level from premier management institutes
• Hinduja Group continues to hire for its new initiatives but has become selective
• Unreasonable hike of 50% to 80% has now been moderated
• Manufacturing sector is the lowest payer with the CEO`s salary in the sector ranging from Rs 40-80 lakh
Tata Capital Ltd, a wholly-owned subsidiary of Tata Sons, which recently hired Harshawardhan Sabale as Co-head for its PE Growth Fund has restructured its hiring plans and is now hiring currently for critical positions.
Amar Sinhji, head (human resources), Tata Capital Ltd told FE, "Right now we are not doing mass hiring but are looking at filling critical positions only. But will also be hiring about 30-40 graduates at the junior level and post graduates from premier management institutes as well."
Similarly, Hinduja Group continues to hire for its new initiatives but becomes selective, however a lot of moderation has happened at the middle level and junior level positions, the group HR head reveal declining to give specifics.
"For our new businesses and at leadership position we continue our search for the right candidate. Also there has been no revision or cut in the compensation however the unreasonable hike of 50%-80% has now been moderated," said Sudhanshu Tripathi, group president, Hinduja Group.
Experts believe that salaries are now rationalised and justified compared to the extraordinary increase earlier. Salary of a CEO in the financial service sector is the highest and ranges anywhere between Rs 1.5 - 3 crore. A CEO in IT, telecom and insurance draws anywhere is between Rs 1-2 crore. In the media and entertainment the salary is between Rs 1.5 to 2.75 crore and in the pharma sector it is in the range of Rs 75 lakh to Rs 1.5 crore. However, the manufacturing sector is the lowest payer with the CEO`s salary in this sector ranging from Rs 40-80 lakh only. In the retail sector CEO of Indian retail company gets paid in the range of Rs 80 lakh to Rs 1.2 crore and an MNC retail company CEO gets paid up Rs 2 crore, say experts.
Pick `n` choose
• According to experts, salaries are now rationalised and justified compared to the extraordinary increase earlier
• Tata Capital Ltd has restructured its hiring plans and is now hiring currently for critical positions
• The company will also be hiring 30-40 graduates at the junior-level from premier management institutes
• Hinduja Group continues to hire for its new initiatives but has become selective
• Unreasonable hike of 50% to 80% has now been moderated
• Manufacturing sector is the lowest payer with the CEO`s salary in the sector ranging from Rs 40-80 lakh
